Giving Back

The official definition of a recession says that the economy is in a recession if the country’s gross domestic product declines for two consecutive quarters. Under this definition, the United States entered an economic recession during the summer of 2022. However, some experts argue that low unemployment, record corporate earnings, and GDP growth in Q3 indicate that the U.S. is not yet in a recession. Unfortunately, whether we’re in a recession right now may be a moot point, as many economists agree that a recession ... Read More

Online order fulfillment used to rely on Just-in-Time (JIT) inventory practices, wherein predictive software leveraged historical trends and sales data to identify optimal restocking times. This method allowed online retailers to avoid overpaying for warehouse storage. The COVID-19 pandemic exposed a major flaw in JIT inventory philosophies as e-commerce sellers quickly ran out of inventory in the face of massive disruption to their resupply channels. This emergency caused a shift in the other direction, with retailers stocking their warehouses to bursting with safety stock to ... Read More

As first published by Sam Wall for The Roanoke Times.  Salem’s new economic development director is working with city business leaders and other community stakeholders to better understand how to best serve the city. Tommy Miller, who started his new position with the city in April, sat down with roughly three dozen members from the community Thursday morning at the Civic Center as part of a city Salem-Roanoke County Chamber of Commerce event to pick their brains on what the city needs to do ... Read More